Tuesday, September 2, 2008

Prime Mortgage Foreclosures Now Exceed Subprime Foreclosures

Major media outlets recently started reporting that mortgage lenders feared another wave of defaults, this time among Prime borrowers--those with good credit.

And the July, 2008 figures, the latest available, show that there are now more Prime than Subprime Foreclosures: 105,000. There were "only" 97,000 Subprime Foreclosures in July, 2008.

These numbers come from Hope Now, the lenders group put together by Treasury Secretary Hank Paulson. The completed sales for Subprime Foreclosures are still higher, but the gap is narrowing, notes NYTimes Chief Financial Correspondent Floyd Norris.

1 comment:

Anonymous said...

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